Friday, July 05, 2013

Coal's Great 2012 Means It Could Displace Oil to Become the World's Number 1 Source of Energy

Oil remains the world's leading source of energy, providing 33.1% in 2012, but its share has fallen to its lowest level since at least 1965 and now could be displaced as the world's top energy source by coal.
http://www.bp.com/en/global/corporate/about-bp/statistical-review-of-world-energy-2013.html.

As oil loses market share, coal gains market share and provided 29.9% of the world's global energy in 2012, its highest market share since 1970. The two most carbon intensive fuels--oil and coal--are the world's biggest sources of energy and together supply 63% of the globe's energy. One need look no further than those facts to understand why the world continues to increase the concentration of carbon dioxide in the atmosphere and why many are pessimistic about the world's ability to avoid enormous warming in the next 80 years.

Other than coal and oil, what does the world use for the rest of its energy? Natural gas provides 23.9%; hydro power 6.7%; nuclear power 4.5; and non-hydro renewable energy 2.4%.  Those fuels are zero carbon or lower carbon than coal or oil.

But in 2012, the world used more coal and oil than ever before, and coal moved toward displacing oil as the world's leading fuel.


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